South Florida is Facing the Financial Crisis

Riding out The Storm: Tell Us Your Story (click here)

A few days ago we ran a blog with connections to a video of a workshop for homeowners who are "underwater."  If this is a term you aren't familiar with, the Sun Sentinel's Paul Owens has an article which explains what being underwater means and why it is such a huge problem in this area.  You can find the link to that article in our blog.

Do you have a story to tell about your situation?  Please share it with us and help others in South Florida. The strength of our community will be based on our ability to weather this storm and as neighbors we can share the successes and struggles and offer assistance to others.

Share your stories and comments.

Read recent articles about the mortgage crisis, foreclosure prevention and homebuyer information here

Cash-strapped homeowners are finding short-sales are hard to come by (read here)

Why Mortgage Complaints are the hardest to handle (read here)

UNDERWATER? Watch Housing 101 (watch here)

The White House Lays Down a Deadline for Mortgage Repair (read here)

From Nightly Business Report: Mortgage Loan Modifications (read here)

Florida attorney general investigating 81 mortgage modification companies (read here)

From the Kaufman and Co. program on WDNA 88.9FM, a discussion of the work done by Legal Services of Greater Miami (represented by senior attorney Carolina Lombardi) and the Facing The Mortgage Crisis initiative that WPBT2 and WDNA 88.9FM are developing in South Florida.

As we all face the financial crisis WPBT2 and WDNA 88.9FM will continue to bring you information from experts, trusted resources, and the South Florida community.

2-1-1 Services provide referrals to a number of resources in the community that can help homeowners stay in their homes, fight foreclosure notices ot provide support in other areas that might help close the gap on monthly mortgage expenses. Working with the United Way, callers can get access to an array of services by dialing 2-1-1 in any of the counties in south Florida in which they live.

If you are having problems with your mortgage the time to act is now. There are trusted community resources available to help but you have to ask. For help call the United Way’s 24 hour helpline at 305-358-4357 and they will connect you to the help that you need.

Watch : Issues with Helen Ferre

Read: Nightly Business Report Transcript: Foreclosure Crisis Round 2

Read: Nightly Business Report Transcript: One on One with Robert Brusca, Chief Economist of Fact & Opinion Economics

 

Comments

[Reverse Mortgage]

Florida was always going to be in this position.

[church bonds]

I am afraid the financial crisis is not going to end until we get people back to work.

[San Diego New Homes]

High defaults on ARM and subprime mortgages contributed significantly to the crisis. Predatory lending also played a big part.

[Kamagra]

Hey, Really great work,I would like to join your blog anyway so please continue sharing with us........@@

[Church Loans]

What is hard for me to believe is that some professionals are actually advising homeowners to walk away from an underwater mortgage!!

[home buyer]

2010 was kinda a bizarre year for the mortgage market. In the first half of the year, you had a decent number of home sales keeping mortgages for purchases stable, thanks to the home buyer credit. In the second half of the year, that changed as demand crumbled when the credit was withdrawn. At the same time, you had very low mortgage interest rates throughout much of the year cause a mini-refinancing boom. 2011 will look very different, as the housing demand continues to struggle and mortgage interest rates have begun rising.

[Ditech Home Loan]

Part of the problem involved the proliferation of hone loans with low teaser rates which later increased dramatically.

[Ditech Home Loan]

These stories are quite heartbreaking. The crisis was fueled in part by consumers obtaining loans with initial low teaser rates. Once these rates increased many homeowners were unable to keep up.

[Bankruptcy Lawyer]

May be Miami leaders fear a financial meltdown.

[long island swimming pools]

Is present global financial crisis result of a divine intervention?

[scoremore]

One of the few positive aspects of the growing unemployment rates around the country = more people will have time to seriously protest this madness and initiate a people's revolution to force real social/economic change from the Obama Admin. and Congress.

[R4i]

What's really sad about how most banks operate is that working with most borrowers to get a more affordable mortgage vs.

[R4i]

Pardon me if I believe that the mortgage crisis stems from many things:

[R4i]

I believe that the only way to help people having difficulties with their mortgage is for the Banks to break out of their little rigid world and really work with people. What's really sad about how most banks operate is that working with most borrowers to get a more affordable mortgage vs

[Home Mortgage Pittsburgh]

Well, that is sad for some people in Florida, but they can still apply for a more convenient and acceptable home mortgage. Pittsburgh-based bankers are providing guidance on owning a house you can afford.

- Justin Bill

[Chicago bankruptcy lawyer]

A collapse of the US sub-prime mortgage market and the reversal of the housing boom in other industrialized economies have had a ripple effect around the world.

[Paul from Silver Coast Finest]

2-1-1 is very helpful..As what they said, they provide referrals to a number of resources in the community that can help homeowners stay in their homes..That's nice.

[investment costa rica]

A good business provides stability to the home and family. To have a good business is necessary to work very hard, with great effort and sacrifice, but the results will always be very good

[vimax]

So many opinion to face financial crisis..great opinion

[Graco Myride 65]

I have seen this problem in Florida first hand when I visited after Katrina. Even then it seemed like an economic slow down was looking.

[Haze Him]

Awesome!!

[buy acai]

Just wanted to let you know that it’s not showing up properly on the BlackBerry Browser (I have a Pearl). Anyway, I’m now on the RSS feed on my laptop, so thanks!

[vimax]

Interesting info! Horrible business practice automatically opting customers in.

[vigrx plus]

I think the comments to the post are as interesting as the post itself.

[Research Paper]

Many institutions limit access to their online information. Making this information available will be an asset to all.